Morgan Stanley: ASML Has 70% Upside Potential in a Bull Market Scenario

Morgan Stanley is optimistic about the stock performance of Dutch semiconductor equipment manufacturer ASML. According to analysts at the bank, in the most optimistic scenario, the stock could rise by 70% to as much as 2,000 euros as chip manufacturers ramp up spending to meet soaring demand for artificial intelligence. Morgan Stanley became even more bullish on ASML after TSMC's results indicated that the spending boom in the AI sector has not slowed down. ASML's stock has risen 25% so far in 2026, and its market capitalization surpassed $500 billion this week, making it the third European company to reach this milestone.